Australian Financial Services Licensing (AFSL) Forum

#6246 Reply

zoedon

I look after a vape shop directory and we have had a listing from a vape shop in the USA that also offers CBD goods. A Month later, PayPal has written to use to say that our account has been restricted and have asked us to take out PayPal as a payment solution from our vape store web directory. We do not offer CBD products like CBD oil. We solely offer marketing and advertising solutions to CBD firms. I have checked out Holland & Barrett– the UK’s Major Health Store and if you take a good look, you will see that they offer for sale a pretty extensive variety of CBD products, primarily CBD oil and they also happen to accept PayPal as a settlement solution. It emerges that PayPal is applying double standards to many different firms. Because of this constraint, I can no longer take PayPal on my CBD-related internet site. This has restricted my payment choices and presently, I am intensely dependent on Cryptocurrency payments and straightforward bank transfers. I have spoken with a lawyer from a Magic Circle law practice in London and they said that what PayPal is undertaking is absolutely unlawful and discriminatory as it ought to be applying a consistent criterion to all companies. I am yet to talk with a different legal representative from a US law firm in The city of london to see what PayPal’s legal position is in the United States. In the meantime, I would be extremely appreciative if anyone here at complianceforum.com.au could offer me with substitute payment processors/merchants that work with CBD companies.

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